What are the major factors driving the growth of the soy chemicals market?

In the year 2025, the industry size of soy chemicals is estimated at USD 30.61 billion. Read More

What would be the CAGR of soy chemicals Market over the forecast period?

Soy Chemicals Market size was valued at USD 28.8 billion in 2024 and is likely to cross USD 72.85 billion by 2037, expanding at more than 7.4% CAGR during the forecast period i.e., between 2025-2037.. Read More

Soy Chemicals Market Trends

Growth Drivers

Increase In The Demand For Renewable Chemical And Fuel Source

There is considerable potential to increase energy supplies in populated countries. Liquid biofuels, a viable renewable alternative to gasoline, are used primarily in the transportation sector. The growing demand for sustainable energy sources has led to an increase in the consumption of biodiesel, mainly from raw materials such as soybeans, animal fats, and recycled edible oils, around the globe. Biodiesel emits lower levels of particles and carbon monoxide than conventional petroleum biodiesel. In the U.S. according to the Department of Energy, the use of biodiesel allows for a reduction of about 78% in CO2 emissions, thus boosting demand for the soy chemicals.

Increase In Demand For Eco-Friendly Products

The soy chemicals market demand for bio and environmentally friendly products is increasing, among the consumers and especially in the chemicals sector worldwide. The market for soybean chemicals offers tremendous opportunities in the consumer and industrial sectors such as fertilizers, insecticides, pesticides, and lubricants, as well as other sectors. The growing demand for environmentally friendly chemicals can also be observed in industries such as consumer packaging, cosmetics (perfumes and deodorants), detergents, and food ingredients. Besides, consumer demand for environmentally friendly chemicals such as industrial polymers, eco-pesticides, eco-insecticides, plastics, pharmaceutical ingredients, bio-fertilizers, and lubricants stimulates the market growth of global soy chemicals market.

Challenges

Availability of Substitutes

Presence of substitutes such as natural bio mass and bio gas, which are used as an alternative for soy based chemicals are some of the factors anticipated to limit the growth of the global soy chemicals market.

Soy Chemicals Market: Key Insights

The chemical industry as a whole is witnessing a shift from petroleum-based products to bio-based products in response to events such as global warming. According to the statistics by the National Centers for Environmental Information (National Oceanic and Atmospheric Administration or NOAA), global land and ocean temperature anomalies increased from 0.73°C in the year 2010 to 0.95°C in the year 2019.

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The soybean-based chemical market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by product type and by application. In the product type, it is further segmented into soy oil derivatives, natural extracts, vitamin e, industrial refined soy oil, and fatty acid out of these, soymilk and soybean oil segments are anticipated to experience the highest growth owing to the fact that they are widely used in foods and beverages backed by the presence of high nutrient content. By application, plasticizers and fuel additives segments are expected to be at an elevated state owing to the increasing awareness among consumers about the negative consequences of over-consumption of fossil fuel and how biofuels can be used as effective alternatives. Consumers are increasingly demanding biodegradable plastics that can be made from soy-based derivatives, soy-protein concentrate, isolates, and flakes that can be mixed with synthetic plastics, which includes polycaprolactone and polylactic acid. This is done with a purpose to seam chemicals together with waxes, isoflavones, thermoset plastics, plasticizers, elastomer, rubber compounds, and different oleochemicals that can be used to make molded products like bio-degradable plastics, soaps and purchasing bags.

Base Year	2024
Forecast Year	2025-2037
CAGR	7.4%
Base Year Market Size (2024)	USD 28.8 billion
Forecast Year Market Size (2037)	USD 72.85 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Who are the major soy chemicals players?

The major players in the market are Archer Daniels Midland Company, Cargill, Incorporated, Dupont de Nemours, Inc, Burcon NutraScience Corporation, Nordic Soya Oy, Ag Processing Inc, Elevance Renewable Sciences, Inc., Soy Technologies, LLC, The Dow Chemical Company, Hexion Specialty Chemicals, and others.

Soy Chemicals Market Trends